Offshore Drilling

Dear Congressman, After researching the production of oil, in regards to offshore drilling I have found that the oil rigs are creating a vast amount of negative externalities, which is leading to inefficiencies in the economy. Offshore drilling is greatly associated with the amount of risk and as technology advances it has allowed companies to operate in even deeper waters, which allows the major companies to explore further out into the ocean. Past oil spills, along with the assumption of future oil spills, it is hard to measure the damage it has created on the environment and the global economy. It is evident that one can assume that these externalities are not just assumptions, but a reality that the major players in the oil industry do …show more content…
For instance, drilling into the ocean does not internalize the effects of the chemical waste (arsenic, cadmium, mercury, lead, zinc and copper) that is being deposited into the ocean. Likewise, this is the cost to the local communities, fishermen lose their livelihood, tourism to the respective countries ceases and severe damage to the ecological environment is accumulated. Society faces the effects of deposited chemical waste every day. As the global economy is effected by environmental damage to vegetation, livestock, and to the health of the human body itself. Also, oil spills interfere with the normal working of power stations, along with the desalination of plants that require a constant supply of clean seawater. Many of the world’s people who live on the coast rely heavily on the fish market, not only for a food source, but also to sustain their economy. When the chemicals are released into the ocean, countries operation of coastal industries and ports are impacted, the fish being caught arrive infected and thus, consuming the fish effect the health of people …show more content…
Education is the most powerful tool you can use for any situation. When communities are engaged through education and awareness the efforts to build better water quality efforts often promotes political will and more passionate communities. When political will is achieved water quality regulations and the enforcement of these regulations sustain safer and cleaner production and transportation of the oil. Furthermore, as communities get involved they often spark awareness events that connect people to the problem, and thus increase involvement within the public to create a